Washington D.C., USA, 21 October 2018:The American Council for an Energy-Efficient Economy (ACEEE) welcomed the release of the Energy Efficiency 2018 report by the International Energy Agency (IEA), the former organisation announced in a Press communiqué. The report underscores efficiency’s critical role in meeting greenhouse gas reduction commitments under the Paris Agreement and highlights the disappointing news that efficiency investments have slightly decreased in the United States and China, the communiqué said.

Energy efficiency remains a vastly untapped resource, despite being a proven strategy for meeting growing energy demand worldwide and a key driver of economic, social and environmental progress, the communiqué said. The IEA report’s finding that global energy demand rose by nearly 2% in 2017 indicates a need for a significant increase in efficiency policies and programmes, in both emerging and established economies, the communiqué further said. This is especially relevant in light of the alarming findings from the most recent Intergovernmental Panel on Climate Change report, which states that global greenhouse gas emissions must drop by 45% by 2030, from 2010 levels, for the world to meet its Paris Agreement commitments, the communiqué added.

The ACEEE said: “We endorse the IEA’s support for key efficiency policies, including stronger fuel economy standards for cars and trucks, appliance standards and deep building retrofits. As governments consider ways to significantly cut their energy use, while also growing their economies, they can turn to the ACEEE International Energy Efficiency Scorecard, which provides policymakers with a roadmap of policy options and best practices in the buildings, transportation, and industrial sectors that will help optimise efficiency investments and maximise reductions in energy consumption.”